Published: 11 December 2013

Zimbabwe's auction today of 300 000 carats of diamonds in the European Union will bring greater transparency in the country's diamond sector.

The sale is Zimbabwe's first ever in Antwerp. The Antwerp World Diamond Centre said the auction of the 300,000 carats of diamonds - equivalent to 60kg - would increase transparency in Zimbabwe's diamond industry.

"Antwerp is convinced that the combination of solid transparency, accountability and potentially increased mining revenues will contribute to a sustainable social and economic development of Zimbabwe," the AWDC said.

Belgium, the centre of the global diamond trade, had pushed hard for the EU to lift sanctions on the state-owned Zimbabwe Mining Development Corporation (ZMDC), in line with an earlier agreement.

ZMDC operates seven joint-venture mines in the Marange diamond fields, producing eight million carats last year and generating £415m in exports.

- BH24-Skynews

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